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Council asks staff, auditor to reconcile holding reports, identify excess reserves for CIP
Summary
Amarillo council asked finance staff and CLA to reconcile the city's quarterly investment holdings to the draft ACFR, requested an itemized 09/30/2025 holdings report and a CIP work-product listing appropriations, actuals and remaining balances so excess reserves can be identified for capital projects.
During a special audit presentation, Mayor Stanley pressed staff and CLA for a clear reconciliation between the quarterly investment-holdings report and the amounts presented in the draft ACFR. "If you look back at that report, it roughly held 585,000,000 in it," the mayor said, urging an itemized 09/30/2025 holdings report that separates restricted (bonded) funds from unrestricted cash.
Scott Kerschnak of CliftonLarso…
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